CRC reports Q1 net loss of $10M, adj. EPS $0.75; returns $79M to shareholders

California Resources Corp

2024-Q1 EPS reported -$0.14 revenue$454,000,000

Net loss of $10M ($0.14 loss per share); adjusted net income $54M ($0.75 per share).
Q1 adjusted EBITDAX $149M, free cash flow $33M; net cash from operations $87M.
Returned $79M to shareholders via $58M buybacks and dividends; YTD nearly $95M.
Aera Merger on track: definitive proxy filed, HSR cleared, expected close mid-2024.
Board elected Christian S. Kendall; declared $0.31/share dividend payable June 14.

item 2.02 item 5.07 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

California Resources Corp reported the three months ended March 31, 2024 results: net income $10 million, or $0.14 per diluted share.

Period: the three months ended March 31, 2024
Net income: $10 million, or $0.14 per diluted share
Result: reported results

Exact text from the filing

On May 7, 2024, California Resources Corporation (the “Company”) issued a press release announcing its financial condition and results of operations for the three months ended March 31, 2024.

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Source: SEC EDGAR

accession 0001609253-24-000059

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